Champion Sports, which was founded in 1992, was acquired at the peak of the boom by a consortium called PCP One. Its backers included developer Bernard McNamara, and developer Joe O'Reilly -- whose Castlethorn Construction firm is one of the most indebted companies in NAMA.

Speaking to the Irish Independent yesterday, JD Sports financial director Brian Small said that the company believed Champion Sports presented a good opportunity, despite racking up an operating loss of €1.8m and a pre-tax loss of €4.9m in 2009.